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After going through Groups Chapter 22
There are mentioned Overseas companies as part of group 75%. Basically I understood, that UK loss can not be set off against overseas (Latvias) profit.
Overseas company – is it any company outside UK or or any company outside European Union.
Thanks
Liene
Hi Liene – there is no group relief between UK and overseas companies (at P6 there is more detail that distinguishes between EU subs and non EU subs but not an issue at F6). The only issue mentioned in the notes (most unlikely for exam!) is that 2 UK subs of an overseas parent company would be able to group relieve with one another but not with the overseas parent!
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